Stellus backs MML Capital’s OnPoint buyout

• Based in Texas, OnPoint provides industrial safety and maintenance support
• Stellus was formed in conjunction with the spinout of D.E. Shaw group’s direct capital unit
• Currently, Stellus has approximately $2.6 billion in assets under management

Stellus Capital Management has provided senior debt financing and an equity co-investment to support MML Capital Partners‘ acquisition of OnPoint Industrial Services LLC. No financial terms were disclosed.

Based in Texas, OnPoint provides industrial safety and maintenance support.

Stellus is a middle-market direct lender.

On the transaction, Sean Quinn, a managing director at MML, said in a statement, “We enjoyed working with Stellus and valued their sector experience and knowledge of the company as an existing lender and investor. Stellus was thoughtful in providing a flexible financing structure that allows for OnPoint’s continued growth and execution of our investment thesis. We look forward to building a strong relationship with Stellus going forward.”

Stellus was founded in 2012 and formed in conjunction with the spinout of D.E. Shaw group’s direct capital unit. Since 2004, the Stellus team has deployed over $8 billion into more than 350 middle market companies. Stellus currently has approximately $2.6 billion in assets under management.